TX Rail Products, Inc. Reports Revenue Growth of 16% for Fiscal 2024
TX Rail Products (TXRP) reported strong financial results for fiscal year 2024, with revenue increasing 16.3% to $8.1 million from $7.0 million in FY2023. The company's gross profit margin improved significantly to 27.2% from 20.1%, while net income doubled to $1.3 million ($0.03 per diluted share) from $648,000 ($0.01 per diluted share) in the previous year.
Operating expenses rose 21.6% to $894,000, while cost of goods sold increased 6.0% to $5.9 million. The company maintained positive cash flow from operations at $228,000, secured a new $500,000 credit line, and added two new customers in November, signaling potential growth acceleration for 2025.
TX Rail Products (TXRP) ha riportato risultati finanziari solidi per l'anno fiscale 2024, con un aumento del fatturato del 16,3% a 8,1 milioni di dollari rispetto ai 7,0 milioni di dollari nel FY2023. Il margine di profitto lordo dell'azienda è migliorato significativamente, passando dal 20,1% al 27,2%, mentre l'utile netto è raddoppiato a 1,3 milioni di dollari (0,03 dollari per azione diluita) dai 648.000 dollari (0,01 dollari per azione diluita) dell'anno precedente.
Le spese operative sono aumentate del 21,6% a 894.000 dollari, mentre il costo delle merci vendute è aumentato del 6,0% a 5,9 milioni di dollari. L'azienda ha mantenuto un flusso di cassa operativo positivo di 228.000 dollari, ha ottenuto una nuova linea di credito di 500.000 dollari e ha aggiunto due nuovi clienti a novembre, segnando una potenziale accelerazione della crescita per il 2025.
TX Rail Products (TXRP) reportó resultados financieros sólidos para el año fiscal 2024, con un aumento del 16,3% en los ingresos a 8,1 millones de dólares desde los 7,0 millones de dólares en el FY2023. El margen de beneficio bruto de la empresa mejoró significativamente, pasando del 20,1% al 27,2%, mientras que la utilidad neta se duplicó a 1,3 millones de dólares (0,03 dólares por acción diluida) desde 648,000 dólares (0,01 dólares por acción diluida) del año anterior.
Los gastos operativos aumentaron un 21,6% a 894,000 dólares, mientras que el costo de bienes vendidos aumentó un 6,0% a 5,9 millones de dólares. La empresa mantuvo un flujo de caja positivo de 228,000 dólares, aseguró una nueva línea de crédito de 500,000 dólares y sumó dos nuevos clientes en noviembre, lo que indica una posible aceleración del crecimiento para 2025.
TX Rail Products (TXRP)는 2024 회계 연도에 강력한 재무 결과를 보고했으며, 수익은 16.3% 증가하여 810만 달러에 도달했습니다. 이는 2023 회계 연도의 700만 달러에서 증가한 것입니다. 회사의 총 이익률은 20.1%에서 27.2%로 크게 개선되었고, 순이익은 648,000달러(희석 주당 0.01달러)에서 130만 달러(희석 주당 0.03달러)로 두 배 증가했습니다.
운영 비용은 21.6% 증가하여 894,000달러에 달하며, 판매된 상품의 비용은 6.0% 증가하여 590만 달러에 도달했습니다. 회사는 운영에서 228,000달러의 긍정적인 현금 흐름을 유지하였으며, 50만 달러의 신규 신용 한도를 확보하고, 11월에 두 명의 신규 고객을 추가하여 2025년의 잠재적 성장 가속화를 나타냈습니다.
TX Rail Products (TXRP) a rapporté des résultats financiers solides pour l'exercice fiscal 2024, avec une augmentation des revenus de 16,3% à 8,1 millions de dollars, contre 7,0 millions de dollars en FY2023. La marge brute de l'entreprise s'est significativement améliorée, passant de 20,1% à 27,2%, tandis que le bénéfice net a doublé pour atteindre 1,3 million de dollars (0,03 dollar par action diluée) contre 648 000 dollars (0,01 dollar par action diluée) l'année précédente.
Les dépenses d'exploitation ont augmenté de 21,6%, atteignant 894 000 dollars, tandis que le coût des biens vendus a augmenté de 6,0% pour s'établir à 5,9 millions de dollars. L'entreprise a maintenu un flux de trésorerie opérationnel positif de 228 000 dollars, a sécurisé une nouvelle ligne de crédit de 500 000 dollars et a ajouté deux nouveaux clients en novembre, signalant ainsi une potentielle accélération de la croissance pour 2025.
TX Rail Products (TXRP) hat für das Geschäftsjahr 2024 starke finanzielle Ergebnisse gemeldet, mit einem Umsatzanstieg von 16,3% auf 8,1 Millionen Dollar im Vergleich zu 7,0 Millionen Dollar im Geschäftsjahr 2023. Die Bruttogewinnmarge des Unternehmens verbesserte sich erheblich von 20,1% auf 27,2%, während sich der Nettogewinn auf 1,3 Millionen Dollar (0,03 Dollar pro verwässerter Aktie) verdoppelte, gegenüber 648.000 Dollar (0,01 Dollar pro verwässerter Aktie) im Vorjahr.
Die Betriebskosten stiegen um 21,6% auf 894.000 Dollar, während die Kosten der verkauften Waren um 6,0% auf 5,9 Millionen Dollar zunahmen. Das Unternehmen hielt einen positiven Cashflow aus dem Betrieb in Höhe von 228.000 Dollar aufrecht, sicherte sich eine neue Kreditlinie über 500.000 Dollar und gewann im November zwei neue Kunden hinzu, was auf eine potenzielle Wachstumsbeschleunigung für 2025 hindeutet.
- Revenue growth of 16.3% to $8.1 million in FY2024
- Net income doubled to $1.3 million ($0.03 per diluted share)
- Gross profit margin increased to 27.2% from 20.1%
- Addition of two new customers in November 2024
- Positive operating cash flow of $228,000
- Secured new $500,000 credit line
- 20.2% reduction in accounts receivable
- Operating expenses increased 21.6% to $894,000
- Cash and cash equivalents decreased to $114,000 from $159,000
- Higher cash used in investing activities ($302,000 vs $86,000)
- Inventory levels increased 9.5% to $2.8 million
Gross Profit Margin Increases; Net Income Doubles
ASHLAND, Ky., Dec. 23, 2024 (GLOBE NEWSWIRE) -- TX Rail Products, Inc. (OTC Markets PINK: TXRP), a supplier of rail and rail products to the U.S. coal mining industry, short line railroads and tunneling contractors, today announced financial results for its fiscal year 2024.
Mr. Shrewsbury, CEO and Chairman of TX Rail Products, Inc., commented, “For fiscal year 2024, we delivered double-digit revenue growth of
Shrewsbury continued, “Demand remains robust for our rail products, as our reputation for excellent customer service combined with high quality product is gaining awareness among the end markets we serve. In November we added two new customers, which underscores our optimism for accelerating top-line growth in 2025.”
Full Year Fiscal 2024 Financial Summary
Revenue for the fiscal year ended September 30, 2024, was
Cost of goods sold for fiscal year 2024 was
Gross profit for the fiscal year ended September 30, 2024 increased as a percentage of revenue to
Operating expenses for the fiscal year ended September 30, 2024, were
Other expense for fiscal year ended September 30, 2024 was (
Net income for the fiscal year 2024 was
As of September 30, 2024, cash and cash equivalents were
Net cash provided by operating activities was
Accounts receivable was
Inventory was
Forward-Looking and Cautionary Statements
Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA) and other applicable law. When used, the words "believe", "anticipate", "estimate", "project", "should", "expect", "plan", "assume" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Forward-looking statements are based on the Company's current assumptions regarding future business and financial performance. Forward-looking statements concerning future plans or results are necessarily only estimates and actual results could differ materially from expectations. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the following: our ability to implement our business strategy; our financial strategy; a downturn in economic environment; our failure to meet growth and productivity objectives; a failure of our innovation initiatives; risks from investing in growth opportunities; fluctuations in financial results and purchases; the impact of local legal, economic, political and health conditions; adverse effects from environmental matters and tax matters; ineffective internal controls; our use of accounting estimates; our ability to attract and retain key personnel and our reliance on critical skills; impact of relationships with critical suppliers; currency fluctuations and customer financing risks; the impact of changes in market liquidity conditions and customer credit risk on receivables; our reliance on third party distribution channels; Securities and Exchange Commission regulations related to trading in "penny stocks;" the continued availability of certain financing provided by our CEO; and other risks, uncertainties and factors or in materials incorporated therein by reference. Any forward-looking statement in this release speaks only as of the date on which it is made. We assume no obligation to update or revise any forward-looking statement. Notwithstanding the above, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1933, as amended, expressly state that the safe harbor for forward looking statements does not apply to companies that issue penny stocks. Because we may from time to time be considered to be an issuer of penny stock, the safe harbor for forward looking statements under the PSLRA may not be apply to us at certain times.
Contacts
Investor Relations:
Brett Maas
Hayden IR
txrp@haydenir.com
646-536-7331
William “Buck” Shrewsbury
Chairman and CEO TX Rail Products, Inc.
(606) 928-3131
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